Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO.
A) $2,980
B) $5,440
C) $2,460
D) $2,850
E) $2,590
A) $2,980
Explanation: (140 * $12 = $1,680) + (100 * $13 = $1,300) = $2,980
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